Economic calendar in Asia for Good Friday, 28 March 2024 – big day for Japanese inflation!
Read full post at forexlive.com
Japanese (Tokyo) CPI, and jobs, data is due at 2330 GMT, which is 1930 US Eastern time.
The other data follows at 2350 / 1950.
Japanese and mainland China markets are open today.
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For the headline Tokyo CPI the expected I’ve seen is 2.5%, slightly down from 2.6% but still above the Bank of Japan target level of 2%. Last week the Bank of Japan raised rates for the first time in 17 years. The decision was a drawn-out one. I linked to a piece from Reuters which looked at the process, and which implicitly raises the question of much independence the BOJ really has (a question plenty of people have raised before):
Yesterday we had the ‘Summary’ of that meeting published. In a nutshell the summary of the Summary is that it’ll be a very slow rate hike cycle going forward, which will keep yen under pressure as a carry currency.
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Tokyo area inflation data:
- National-level CPI data for this month will follow in about three weeks, it takes longer to gather and collate the national data.
- Tokyo CPI is a sub-index of the national CPI
- It measures the change in prices of goods and services in the Tokyo metropolitan area
- Its considered a leading indicator of national CPI trends because Tokyo is the largest city in Japan and is a major economic hub
- Historically, Tokyo CPI data has been just slightly higher than national Japan CPI data. The cost of living in Tokyo is a touch higher than in most other parts of Japan. Higher rents, for example